This third and final stage in the strategic management process involves developing an implementation plan and then doing whatever it takes to make the new strategy operational and effective in achieving the organization's objectives. The remainder of this chapter focuses on strategy formulation, and is organized into six sections:
Crude oil prices have dropped at a much faster pace than the drop in product prices. US refining runs (or utilization) have been weak.Singapore gross refining margins (GRMs), an important benchmark, show an improvement to $7.4 per barrel for November.Singapore GRMs for the September quarter stood at $4.8 per barrel and for the month of October was $5.4 a barrel.rude oil prices have dropped at a much faster pace than the drop in product prices. US refining runs (or utilization) have been weak.
unprecedented cost of crude oil. As a case in point, during the same four-year period that the price of a ton of East Coast binder went from $180 to $422, the spot price for benchmark West Texas Intermediate crude oil spiraled upward from $37 per barrel to $120 according to the U.S. Energy Information Agency.